PROVIDENCE, R.I. — A federal judge refused Tuesday to release Cranston estate planner Joseph Caramadre from prison while he awaits sentencing for his role in an investment scheme targetting the terminally ill.
Judge William Smith said he could not trust Caramadre’s representations to a psychiatrist that he did not pose a suicide risk or a danger to others.
“I don’t know what to believe when you get on the stand and testify because you’ve lied a couple of times,” Smith said. “You just don’t have any credibility with the court.”
Smith ordered Caramadre imprisoned last month in rejecting the former philanthropist’s bid to withdraw his guilty pleas to fraud and conspiracy. Smith rejected Caramadre’s motion, calling it meritless, bizarre and a cynical attempt to manipulate the court.
Smith agreed to delay his sentencing to September.
Judge rules Cranston estate planner Caramadre should remain jailed
June 18, 2013